Holley (NYSE:HLLY) Given “Outperform” Rating at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Holley (NYSE:HLLY) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $4.50 price target on the stock.

Holley Stock Performance

Shares of Holley stock opened at $2.45 on Wednesday. The firm has a fifty day moving average of $2.89 and a two-hundred day moving average of $2.90. The stock has a market capitalization of $292.90 million, a price-to-earnings ratio of 18.81 and a beta of 1.44. Holley has a 52 week low of $2.29 and a 52 week high of $4.58. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93.

Holley (NYSE:HLLY) last issued its earnings results on Tuesday, March 11th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.02 by $0.09. The company had revenue of $140.05 million during the quarter, compared to analysts’ expectations of $137.60 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS. As a group, equities research analysts predict that Holley will post 0.12 EPS for the current year.

Insider Buying and Selling at Holley

In other news, Director David S. Lobel sold 1,743,356 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $3.00, for a total value of $5,230,068.00. Following the completion of the transaction, the director now owns 41,556,961 shares of the company’s stock, valued at $124,670,883. The trade was a 4.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Holley

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in shares of Holley in the 4th quarter valued at $26,000. Atria Wealth Solutions Inc. acquired a new position in shares of Holley in the 4th quarter valued at $30,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of Holley in the 4th quarter valued at $31,000. Cottonwood Capital Advisors LLC acquired a new position in Holley in the 4th quarter worth $32,000. Finally, Verition Fund Management LLC acquired a new position in Holley in the 3rd quarter worth $35,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

Holley Company Profile

Holley Inc operates as designer, manufacturer, and marketer of automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. Its products span various automotive platforms and sells across multiple channels. The company's performance automotive products include carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, distributors, ignition components, engine tuners, automotive performance plumbing products; and exhaust products, as well as shifters, converters, transmission kits, transmissions, tuners, and automotive software.